Luminent Mtg Cap Inc (fka LUMC)

[I-Man]

LUM does not invest in Sub Prime mortgages and needs to be clarified....

There has been misconception going on out there, but LUM invests only in Fannie Mae, Freddie Mac and Ginnie May backed mortgages, NOT Sub Prime riskier loans which is what is causing the fiasco in major banking stocks because of how they were unscrupulously repackaged to collateralize and sell off to other institutionals as an investment grade product from Banks/Lenders and were not!

LUM's REIT invests in solidly govt. backed mortgages and not Sub Prime types.

Check it out as what they have done will only bode well for LUM stock in 2008 as I see it. Just the ongoing market uncertainty to the $Billions in Sub Prime crap is affecting all stocks including LUM on low market volume, but its price will not stay this low and will only go higher from here.